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    Author: Crosby_research

    CROSBY Research – Minth Group (425 HK/ NR): Capturing the rise of the low-altitude economy

    CROSBY Research – Minth Group (425 HK/ NR): Capturing the rise of the low-altitude economy

    24 July 2025 In July, Minth announced that it has entered into the Development Commission Service Agreement and Strategic Cooperation with EHang (EH US, NR) to which the parties agreed to the framework of cooperation to jointly develop and operate

    Crosby_research July 24, 2025July 24, 2025 RESEARCH Read more

    CROSBY Research – Anta (2020 HK/BUY): Weaker than expected 2Q25 sales growth for Anta Brand

    CROSBY Research – Anta (2020 HK/BUY): Weaker than expected 2Q25 sales growth for Anta Brand

    18 Jul 2025 Anta announced its 2Q25 operational results, with retail sales for its Anta Core Brand recorded a LSD growth YoY (1Q25: +HSD, 4Q24: +HSD), with 1H25 up by MSD YoY. Both adults and kids sales grew by LSD

    Crosby_research July 18, 2025 RESEARCH Read more

    CROSBY Research – 361 Degrees (1361 HK/BUY): More Super Premium Stores were opened in 2Q25

    CROSBY Research – 361 Degrees (1361 HK/BUY): More Super Premium Stores were opened in 2Q25

    15 Jul 2025 361 Degrees announced its 2Q25 operational results, with offline retail sales for its 361° Core Brand recorded a ~10% growth YoY (1Q25: +10%-15%, 2Q24: +10%), while 361° Kids was up by ~10% growth YoY (1Q25: +10%-15%, 2Q24:

    Crosby_research July 18, 2025July 18, 2025 RESEARCH Read more

    CROSBY Research – Johnson Electric (179 HK/ NR): Alliance of innovation: Forging the humanoid robotic frontier through JVs

    CROSBY Research – Johnson Electric (179 HK/ NR): Alliance of innovation: Forging the humanoid robotic frontier through JVs

    17 July 2025 Johnson Electric (JE) announced that it has entered into two JV agreements with Shanghai Mechanical & Electrical Industry. JE’s total investment in these two JVs amounted to Rmb75m.

    Crosby_research July 17, 2025 RESEARCH Read more

    CROSBY Research – Wasion Holdings (3393 HK/ BUY): Sustained progress in brand globalization with increasing recognition

    CROSBY Research – Wasion Holdings (3393 HK/ BUY): Sustained progress in brand globalization with increasing recognition

    15 July 2025 Wasion announced that it has been awarded a smart meter tender contract by Mexico’s Federal Electricity Commission (CFE) last month, valued at over MXN627.4m. This was followed by a previous supply agreement signed with CFE in March

    Crosby_research July 15, 2025July 15, 2025 RESEARCH Read more

    CROSBY Research – Sunny Optical (2382 HK/BUY): VLS Shipment continues to exceed expectations

    CROSBY Research – Sunny Optical (2382 HK/BUY): VLS Shipment continues to exceed expectations

    15 Jul 2025 Handset Lens Sets (HLS) shipment in Jun was down by 3.1% MoM and 12.7% YoY to 95.1m units. This decline was primarily due to a strategic focus on mid-to-high end projects. With the accelerated application of higher

    Crosby_research July 15, 2025July 15, 2025 RESEARCH Read more

    CROSBY Research – Hong Kong Retail: Retail sales in April down by 2.3% YoY

    CROSBY Research – Hong Kong Retail: Retail sales in April down by 2.3% YoY

    05 June 2025 According to data released by the Hong Kong Census and Statistics Department, retail sales in April 2025 declined for the 14th consecutive month, dropping by 2.3% YoY to an estimated HK$28.9bn, falling short of market expectations, which

    Crosby_research June 5, 2025 RESEARCH Read more

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 80)

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 80)

    2 Jun 2025

    Crosby_research June 2, 2025June 2, 2025 RESEARCH Read more

    CROSBY Research – SinoMab BioScience (3681 HK/ NR): An innovative immunology specialist

    CROSBY Research – SinoMab BioScience (3681 HK/ NR): An innovative immunology specialist

    2 Jun 2025 Based in Hong Kong, SinoMab is a pioneering biopharmaceutical company specializing in the research, development, manufacturing, and commercialization of therapeutics for immunological diseases, with a primary focus on monoclonal antibody (mAb)-based biologics. Since its inception, SinoMab has

    Crosby_research June 2, 2025June 2, 2025 RESEARCH Read more

    CROSBY Research – Kuaishou (1024 HK/NR): 1QFY25 revenue up 10.9% YoY

    CROSBY Research – Kuaishou (1024 HK/NR): 1QFY25 revenue up 10.9% YoY

    30 May 2025 Kuaishou’s 1QFY25 revenue was up by 10.9% YoY to Rmb32.6bn, mainly due to i) 8% YoY increase in online marketing services to Rmb18.0bn, driven by higher spending from marketing clients; ii) 14% YoY increase in live streaming

    Crosby_research May 30, 2025May 30, 2025 RESEARCH Read more
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